Encina Business Credit completed a $75.0 million revolving credit facility for Horizon Global. The facility will be used to replace an existing facility and will provide for ongoing working capital.
“We undertook a highly competitive process and Encina emerged as the best business partner for Horizon Global,” Terry Gohl, Horizon Global’s president and CEO, said. “Encina is providing us with the liquidity and flexibility to drive our operational improvement initiatives. I would like to thank the Encina team for their support and confidence in our business and the leadership team at Horizon Global. We look forward to a successful partnership with Encina.”
Horizon Global, headquartered in Plymouth, MI was founded in 2015 and is a $690 million global designer, manufacturer and distributor of towing, trailering, cargo management and other related accessories. The company sells its products under brands such as Reese, Hayman-Reese, Draw-Tite and Westfalia.
“Encina is appreciative of the opportunity to partner with Horizon Global by providing them a working capital facility that offers the flexibility they need to continue to grow their business and drive margins,” Marty Battaglia, Encina Business Credit’s CEO, said. “The Horizon team’s knowledge of their business and lightning fast responsiveness made this process move quickly and efficiently, aiding us in our effort to provide the company a commitment and funding in seven days.”
Encina Business Credit is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans starting at $10 million and secured by accounts receivable, inventory, machinery and equipment and real estate.
